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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
 COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindustan Times.
The Hindustan Times further reported, the coal supplier, Panem, had curtailed the supplies while demanding an increased price, forcing to Power Corporation to resort to load-shedding.
The move will burden the consumers by Rs. 500 crore to Rs. 700 crore (approximately US$ 82,706,150 to US$ 115,788,610) as the imported coal is costlier. The cost of fuel variation is always passed on to consumer by imposing fuel surcharge.
The memorandum put in the board of directors (BoD) admits the decision will increase the cost of generating electricity, the paper said.
Instead of resolving the matter with Panem, a case was put up before the BoD of the PSPCL to buy imported coal and it was approved.
According to Hindustan Times, the PSPCL has taken the decision despite knowing well that the former Punjab State Electricity Board had a bitter experience as it had discontinued the import of coal supplies in 2006.
According to the memorandum, the PSPCL BoD has approved buying of 1.2 million metric tonne of coal costing Rs. 9,300 (approximately US$ 153.83) per metric tonne with an overall cost of Rs. 1,100 crore (approximately US$ 181,953,530). The imported coal will have 6,300 Kcal (per kg) gross calorific value (GCV). It’s higher than the coal being used by the PSPCL at present, which has 4,000 Kcal (per kg) and costs Rs. 3,700 (approximately US$ 61.20) per metric tonne.
The coal is almost two times costlier when we compare it with the GCV, but we have to bite the bullet to check the blackmailing by the Indian coal supplier, said a BOD member, adding that ultimately it was the consumer who would suffer.
The decision will have technical ramifications as the PSPCL plants run on coal having up to 4,000 kcal/kg of coal. Thus, the PSPCL has to blend the imported coal with Indian coal to adjust its calorific value. “The PSPCL will blend the Indian coal and the imported coal in the ratio of 82 and 18 to run the plants,” a BOD member said, adding that it would increase the power generation cost by 50 to 60 paise (approximately US$ 0.01) per unit, which would be borne by the consumer, the paper further said.
Panem has curtailed supplies to the PSPCL by 50 percent this year, leading to a coal crisis.
The Hindustan Times further said, Panem holds the contract for operating the PSPCL’s captive coal mine in Jharkhand. The company has already invoked arbitration proceedings against the PSPCL, demanding higher coal rates.
However, the decision to import coal has to be cleared by the power regulator.
The PSPCL will move the Punjab State Power Regulatory Commission in the coming days, to get the nod for buying imported coal, said Hindustan Times.
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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Indika Energy - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
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